Sushi Corporation bought a machine at the beginning of the year at a cost of $23,000. The
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Question:
Sushi Corporation bought a machine at the beginning of the year at a cost of $23,000. The estimated useful life was five years and the residual value was $2.000. Assume the estimated productive life of the machine is 10,500 units. Expected annual production was year 1, 2,100 units: year 2, 3,100 units; year 3, 2,100 units, year 4, 2100 units; and year 5, 1100 units.
Required:
1. Complete a depreciation schedule for the units-of -production method.
2. Prepare the journal entry to record Year 2 depreciation.
Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
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